FX.co ★ TSX Futures Fall on Hawkish Fed Minutes

Futures tracking Canada’s S&P/TSX Composite Index declined on Thursday, weighed down by hawkish Federal Reserve meeting minutes, as investors also digested a new round of corporate earnings. Cenovus was set for a higher open after reporting record projected 2025 upstream and oil sands output, solid downstream utilization, and strong cash generation, while returning $1.1 billion to shareholders. Teck Resources likewise topped expectations, posting fourth-quarter earnings per share and revenue above market forecasts. At the same time, oil producers were poised to gain as escalating military tensions in the Middle East stoked concerns over potential supply disruptions. The rise in geopolitical risk also boosted demand for gold as a safe haven, lending support to miners’ shares.